Comex copper prices inched higher in early-Monday trading on March 5 after trending lower last week.Copper for May settlement on the Comex division of the New York Mercantile Exchange gained 0.1 cents or 0.1% to $3.1255 per lb. Last week, the contract traded at a multi-week low before recovering slightly Friday afternoon."We should now get an update on how bullish underlying support...Read More
Base metals traded on the London Metal Exchange are for the most part weaker this morning, Monday March 5, with the complex down by an average of 0.4%.Nickel leads on the downside with a 1.1% fall, copper prices are down by 0.4% at $6,887 per tonne and tin is the only metal where prices are higher, up by 0.2% at $21,595 per tonne.Volume has been high with 10,045 lots traded as of 07.30am London ti...Read More
Steel producers in Russia are planning further price rises in the domestic markets for hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was unchanged at 43,000 roubles ($757) per tonne cpt Moscow, including VAT, on Monday March 5.Steel producers kept their March-rolled HR sheet prices for both stockist...Read More
Exporters of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States increased their offer prices in the week ended Monday March 5 because of the higher prices being sought for China-origin material."The increase mainly related to the bullish mood of Chinese exporters, which are pushing prices higher and higher every day," a trader told Metal Bulletin.Metal Bul...Read More
Growth in the Chinese manufacturing sector slowed significantly in the first two months of 2018, and coupled with falling figures for car and house sales the outlook would appear to be far from positive.With a large portion of the year so far having been taken up by official holidays, however, the overall health of China's economy is clearly distorted right now, so it is difficult to draw any clea...Read More
Brazilian long steel imports increased by 198.66% year-on-year in February 2018, with higher shipment volumes coming from Turkey.Imports of non-alloyed long steel products amounted to 29,392 tonnes during the month, against 9,841 tonnes in the February 2017, according to figures released by the country's foreign trade ministry, MDIC,...Read More
Growth in the Chinese manufacturing sector slowed significantly in the first two months of 2018, and coupled with falling figures for car and house sales the outlook would appear to be far from positive.With a large portion of the year so far having been taken up by official holidays, however, the overall health of China's economy is clearly distorted right now, so it is difficult to draw any clea...Read More
United Arab Emirates' principal steel producer, Emirates Steel, increased its output in 2017, the company said on Monday March 5.The company produced more than 3.20 million tonnes of finished steel products in 2017, up from 3.10 million tonnes in 2016, it reported.Within this total, 2.20 million tonnes was rebar, compared with 2.10 million tonnes in 2016, while 540,000 tonnes was heavy sections.Th...Read More
The Turkish steel mills have continued their April scrap bookings at comparatively higher prices, sources said on Monday March 5.A steel mill in the Izmir region was heard booking a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $372 per tonne and bonus at $382 per tonne cfr. The breakdown of the cargo was not clear at...Read More
Turkish domestic scrap prices strengthened over the past week, in line with rising imported scrap costs, sources said on Monday March 5.Metal Bulletin's weekly price assessment for domestic auto bundle scrap (DKP grade) was TRY1,260-1,400 ($331-367) per tonne delivered on March 5, narrowing upward from last week's TRY1,230-1,400 per tonne.The change came about after a number of steel mil...Read More
Iron ore prices fell on Monday March 5 after China's ferrous futures weakened across the board.Metal Bulletin's 62% Fe Iron Ore Index Today: $77.03 per tonne cfr QingdaoDaily change: down by $1.31 per tonneMonth-to-date average: $78.25 per tonneMetal Bulletin's 58% Fe Premium Index Today: $60.78 per tonne cfr QingdaoDaily change: down by $0.89 per tonneMonth-to-date average: $61.50 per tonneMetal....Read More
CIS export billet prices continued to climb in the week ended Monday March 5, supported by strong demand in most sales outlets as well as reduced availability of material and rising scrap costs.Metal Bulletin's export CIS Billet Index was $534 per tonne fob Black Sea on March 5, up by $14 per tonne week-on-week. This took the index to its highest value since January 2013, according to Metal Bullet...Read More
China's domestic rebar prices moved down further on Monday March 5 on futures losses. Domestic Eastern China (Shanghai): 4,000-4,050 yuan ($630-638) per tonne, down 50-60 yuan per tonne Northern China (Beijing): 4,050-4,080 yuan per tonne, down 50 yuan per tonne A weak futures market led to bearish sentiment, and this, coupled with soft demand, pushed down spot prices. Hig...Read More
The Chinese ferro-silicon market dropped on Friday March 2, with one major tender signaling a slower return in demand from Chinese consumers after the recent national week-long holiday. Chinese steel tenders signal shift in demand Other consumer markets also dropped European market moves sideways, eyes March business US steady on reduced imports Chinese domestic ferro-silicon pr...Read More
Low-grade manganese ore prices sailed through the $8 per dry metric tonne unit (dmtu) mark on Friday March 2 in China after producers ratcheted up their offers and on continued demand. Low-grade ore prices exceed $8 per dmtu in ChinaHigh-grade ore market lags in thin tradingSmelter backlash fails to slow rallyAlloy prices hold in most regionsUS ferro-manganese prices edge higher Low-grade mangane...Read More
Growth in the Chinese manufacturing sector slowed significantly in the first two months of 2018, and coupled with falling figures for car and house sales the outlook would appear to be far from positive.With a large portion of the year so far having been taken up by official holidays, however, the overall health of China's economy is clearly distorted right now, so it is difficult to draw any clea...Read More
Growth in the Chinese manufacturing sector slowed significantly in the first two months of 2018, and coupled with falling figures for car and house sales the outlook would appear to be far from positive.With a large portion of the year so far having been taken up by official holidays, however, the overall health of China's economy is clearly distorted right now, so it is difficult to draw any clea...Read More
China's major mills raised their crude steel output rates in early February, while their inventories for finished products decreased. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.7847 million tonnes per day during the first 10 days of February, up 27,900 tonnes - or 1.6% - from 1.7568 million tpd during the last 11 days of January,...Read More
Steel producers in Russia are planning further price rises in the domestic markets for hot-rolled (HR) and cold-rolled (CR) sheet, Metal Bulletin has been told.Metal Bulletin's weekly assessment of the price for Russian 4mm HR sheet was unchanged at 43,000 roubles ($757) per tonne cpt Moscow, including VAT, on Monday March 5.Steel producers kept their March-rolled HR sheet prices for both stockist...Read More
Lead and zinc prices on the London Metal Exchange both closed lower on Monday March 5, reflecting recent stock increases. Zinc hit a two-month low of $3,273.50 per tonne today after a massive 78,950-tonne delivery into LME-listed warehouses in New Orleans. The metal was still $59 per tonne lower at $3,296 at the 5pm London close.The metal's cash/three-month spread briefly swung back into contango...Read More